Citi sets 'buy' rating on Australia's GPT Group

GPT

19/02/2024 21:02

** Citi sets "buy" rating on Australia's GPT Group  GPT.AX ,
target price at A$4.90
    ** Shares of GPT Group  GPT.AX  fell 4.6% on Monday
    ** Despite weak results, Citi says GPT remains exposed to
64% retail & logistics, see reasonable value at a share price
discount to net tangible assets (NTA) of 23%
    ** However, analysts say GPT also exposed to range of risks
that may prevent shares from reaching target estimates or cause
them to outperform
    ** Four of 10 analysts rate the stock "buy" or higher, two
"hold" and four "sell"; their median PT is A$4.55 – LSEG data
    ** Stock down 6.5% YTD

 (Reporting by Neha Soni in Bengaluru; Editing by Sandra Maler)
 ((Neha.Soni@thomsonreuters.com))